#以太坊创历史新高倒计时 Coin price breaks previous high, but on-chain it lies flat—it's like concert tickets selling for sky-high prices, yet the audience at the venue is all asleep. I listed three possibilities:

 Institutional cold wallets hoarding: BlackRock's ETH trust increased by 47% weekly, and Blackstone may be secretly accumulating

Layer 2 revolution backfires: Arbitrum/zkSync consumes 90% of on-chain activity, while the mainnet becomes a shell

Derivatives apocalypse ambush: CME Ethereum futures open interest surges by 300%, a battle between bulls and bears is imminent.